Recruitment firms on the move and in an upward trajectory themselves can be seen as a bellweather of change in the wider economy. Thus, the denizens of Cork’s South Mall will be glad to see the arrival of not one, but two such firms to the South Mall: FRS Recruitment, and IT recruitment specialists Stelfox.
Long-established FRS Recruitment has moved from Midleton to a ground floor office in the city’s commercial heartland.
FRS has taken 12 South Mall, at one stage occupied by estate agency firm Savills, who moved out in 2011, going back into No 11 South Mall which Savills (ex Hamilton Osborne King) had vacated in 2003.
New tenant FRS has taken 3,780 sq ft on the ground floor of No 12 in a deal negotiated by Sean Healy of DTZ Sherry FitzGerald, at rents “in the high teens,” sub-€20 psf.
They have completed a comprehensive fit-out of the space. DTZ are now seeking occupants for space overhead, vacated by law firm RDJ, with some further space vacated by Marsh insurances.
Upper floors are available from 3,000 sq ft to a total of 25,000 sq ft, at indicated rents of €17-18 psf. FRS has offices in up to a dozen Irish locations and works across commercial and professional recruitment services.
Meanwhile also recently opened at 89/90 South Mall is another recruitment company, Stelfox, taking c 1,000 sq ft at ground level, in a space that also had been vacant for a number of years, in a deal done by Declan Hickey of Downing Commercial at about €12 psf.
Stelfox opened in 2001, after the dot-com bubble had burst. In 2013 it established a regional office in Galway.
According to sources, Stelfox may be the smaller change afoot at 89/90 South Mall, with market expectations that the larger building/investment here may also be offered for sale in coming months.
Also expected to be offered to the market is the uncompleted hotel built behind 66 South Mall and adjoining buildings, along Beasley Street and with frontage also to Parnell Place, finished to a shell state by developer Michael Corbett.
Details: DTZ Sherry FitzGerald, 021-4275454;Downing Commercial
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